Lisburn Debt Centre manager explains why you should seek debt help sooner rather than later

The carols have been chorussed, the chocolates consumed and the decorations are down. Many of us now enter a New Year that is financially more uncertain than previous years, and find ourselves, or those close to us, in need of help to navigate through increasingly difficult challenges in 2023.

So why is getting help so vital for people who have found themselves in unmanageable debt?It improves mental health: Unmanageable debt is widely recognised to increase stress levels, disrupting sleep and significantly impacting a person’s general wellbeing. It can make people feel isolated and alone, living with the constant anxiety that debt creates. Addressing your debt by talking to others is often the first step towards finding a solution and taking care of your mental health.

There will be more options available to you: Getting help sooner rather than later means you have more options in how to address your debt. Many people watch their debts build up for months or even years, whilst suffering in silence. CAP reported that a quarter of their clients took more than three years to seek help before contacting them. Getting support and expert advice from a trusted debt help service early on means you’re more likely to have the opportunity to choose the solution best suited to your needs. It’s never too late to get support, but the longer you leave intervention, the less options will be available to you.

It improves relationships: Research from the Money and Pensions Service shows that talking about money worries makes people feel less stressed and more in control, empowering them to make less risky financial decisions, and even improves their relationships. Talking about money isn’t always a straightforward conversation, but is often wrapped up with feelings of fear, guilt and shame. Talking with those close to you might make you feel vulnerable, but it will almost certainly break feelings of isolation and shame, and help you develop stronger relationships through accepting support. Plus, the more you talk about debt and money, the more you open the door for others to do the same.

Lisburn CAP Debt Centre Manager Paul Baillie gives advice on why you should get help with your finances
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Don’t let 2023 be filled with worry – get help today by contacting CAP on 0800 328 0006 (free of charge) or visit capuk.org.